OpenWorld signs non-binding term sheet for up to $1B tokenized financing
OpenWorld signed a non-binding term sheet with Meridian for up to $1B in tokenized funding to back a solar-powered distributed AI computing network.
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what happened
OpenWorld has agreed a non-binding term sheet with Meridian covering tokenized funding of up to $1 billion. The money is intended to build a distributed AI computing network powered by solar energy, initially aimed at 10,000 homes.
Installations are expected to start in the fourth quarter of 2026, but only once definitive agreements are signed. Meridian has obtained rights to Powerwall batteries, a key hardware link for the rollout.
why it matters
For markets this is an early strategic step, as OpenWorld extends its tokenization platform into energy-backed AI infrastructure. Signing a definitive agreement, securing offtake commitments from AI providers and launching the first installations would be the next important milestones. Because the term sheet is not binding, execution risk remains, and any delay against the stated timeline would be seen as a negative signal.
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